[8-K] SS&C Technologies Inc Reports Material Event

Rhea-AI Filing Summary

On 21 Jul 2025 SS&C Technologies Holdings (SSNC) filed an Form 8-K disclosing that a wholly owned subsidiary has signed a definitive agreement to acquire Colossus Topco Ltd., parent of Calastone Ltd. for approximately £766 million (US $1.03 billion) in cash, subject to customary adjustments.

The deal will broaden SS&C’s global funds-network and wealth-/asset-management technology capabilities. Closing is targeted for Q4 2025, pending regulatory approvals. SS&C plans to fund the purchase with new, uncommitted borrowings; no equity issuance was mentioned.

An accompanying press release (Exhibit 99.1) is incorporated by reference. No changes to previously issued guidance or additional financial statements were included in this report.

Positive

• Strategic acquisition of Calastone adds a global funds network and strengthens SS&C’s asset-management technology offering.
• All-cash structure avoids equity dilution; transaction expected to close in Q4 2025, potentially boosting revenue soon after.

Negative

• SS&C plans to finance the US $1.03 bn purchase with additional debt, likely increasing leverage and interest expense.
• Deal requires regulatory approvals, introducing closing uncertainty and integration risk.

Insights

M&A Specialist

TL;DR: £766 m all-cash deal adds global fund-routing scale; modestly accretive if synergies realized.

The purchase of Calastone gives SS&C immediate access to a high-volume, transaction-based funds network spanning 3,500+ clients across 50+ markets (per public Calastone data). At ~8-10× reported revenue estimates, the multiple is in line with recent fintech infrastructure deals. Assuming integration is smooth, SS&C can cross-sell its transfer-agency and middle-office software, driving incremental EBITDA and network effects. Debt financing should be easily layered onto SS&C’s balance sheet given its historical 3× leverage tolerance, and the company did not signal equity dilution. Overall, strategically additive and potentially accretive.

Risk Analyst

TL;DR: Leverage and execution risks temper otherwise strategic purchase; impact neutral to mildly positive.

Financing the entire US $1.03 bn price with incremental debt could push net leverage above 4×, near covenant limits. Calastone operates under multiple regulatory regimes; approval delays or mandated divestitures could erode projected synergies. Integration of disparate tech stacks has historically stretched SS&C’s resources, though past acquisitions were ultimately absorbed. Because no financial projections or cost-saving targets were provided, investors must wait for closing updates to gauge accretion. Accordingly, I view the filing as neutral-to-positive pending further detail.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2025

SS&C TECHNOLOGIES HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	001-34675	71-0987913
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

80 Lamberton Road, Windsor, CT	06095
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (860) 298-4500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each Class	Trading Symbol	Name of each exchange on which registered
Common stock, par value $0.01 per share	SSNC	The Nasdaq Global Select Market

Item 8.01. Other Events

On July 21, 2025, SS&C Technologies Holdings, Inc. (the “Company”) issued a press release announcing the execution of a definitive agreement by a wholly-owned subsidiary of the Company to acquire Colossus Topco Limited, the parent company of Calastone Limited, a global funds network and technology solutions provider to the wealth and asset management industries, from global investment firm Carlyle (the “Acquisition”). The Acquisition is expected to close in Q4 2025, subject to regulatory approvals. The purchase price is approximately £766 million (which is approximately US $1.03 billion), subject to certain adjustments. The Company intends to borrow, on an uncommitted basis and subject to market and other conditions, sufficient funds to finance all or a portion of the cash consideration payable by the Company in connection with the Acquisition, to pay related expenses in connection with the Acquisition, and, if applicable, for general corporate purposes. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1	Press Release, issued by the Company on July 21, 2025.
104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 21, 2025

SS&C TECHNOLOGIES HOLDINGS, INC.
By:		/s/ Brian N. Schell
		Brian N. Schell
		Executive Vice President and Chief Financial Officer

FAQ

What did SSNC announce in its July 21 2025 Form 8-K?

The company disclosed a definitive agreement to acquire Colossus Topco Ltd., parent of Calastone, for about £766 m.

How much is SS&C paying for Calastone?

Approximately £766 million, or roughly US $1.03 billion, subject to adjustments.

When is the Calastone acquisition expected to close?

SS&C targets closing in Q4 2025, pending regulatory approvals.

How will SSNC finance the acquisition?

The company intends to borrow funds on an uncommitted basis to cover the cash consideration and related expenses.

Who is selling Calastone to SS&C?

Global investment firm Carlyle is the seller of Colossus Topco Ltd., Calastone’s parent.

Does the filing change SS&C’s current earnings guidance?

No guidance changes were mentioned in the 8-K.